The Toffees' majority shareholder, Farhad Moshiri, gave the update more than a month after Ronald Koeman was sacked following the club's disastrous start to the season.

It comes as bookmakers made German Ralf Rangnick, currently director of sports at Bundesliga club RB Leipzig, favourite for the job.

Moshiri had made Watford's Marco Silva their prime target but were ready to give up their pursuit after having two approaches to speak to the 40-year-old firmly rejected by the Hornets, reports the Liverpool Echo .

Everton's miserable season slumped to a new low on Thursday night when they were thumped 5-1 by Atalanta in the Europa League at Goodison.